Asian stock markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.2% while the Hang Seng is down 1.1%. The Shanghai Composite is trading up by 0.1%. US stocks ended their four-day winning streak on Thursday as trade anxieties resurfaced.
Back home, India share markets have opened the day on a flat note with a negative bias. The BSE Sensex is trading down by 27 points while the NSE Nifty is trading up by 3 points. The BSE Mid Cap index opened up by 0.4% and BSE Small Cap index opened the day up by 0.3%. The rupee slipped to a new low of 71 per dollar in opening trade.
Barring bank stocks, all sectoral indices have opened the day in green with healthcare stocks and power stocks witnessing maximum buying interest.
Market participants will also track the June-quarter GDP data, due later today. For the quarter ended March 31, the GDP growth rate stood at 7.7%.
In 2018, the MSCI India index outperformed other indices. In 2018, the MSCI India equity index is down marginally by 0.4%. Speaking of the Indian economy, the country is on a strong footing. The MSCI or Morgan Stanley Capital International index is used to measure equity market performance in global emerging markets. It is used as a common benchmark for global stock funds.
India Outperforms Former Fragile Five Peers
Whereas, other countries which were part of fragile five are down in the range of 15-52% The worst performer is obviously the MSCI Turkey, which tanked by whopping 52% in 2018.
Certainly, global investors have recognized the strength of the Indian economy.
Talking of strength, the Indian economy is showing signs of economic recovery.
For example, capacity utilization is picking up. IIP and GDP numbers are improving. Indian corporates are getting back to their capex plans.
Tanushree’s StockSelect recommendation this month is firmly poised to gain from the revival of capex cycle.
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